Cyber insurers could lose 119% of policyholder surplus

A new collaborative report by A.M. Best and Guidewire Software has estimated that three of the top 20 cyber insurers could generate significant gross losses to policyholder surplus of between 15% to 119% from a single cyber catastrophe event occurring in 2022.

A.M. Best and Guidewire’s Cyence Risk Analytics team extrapolated and modelled current cyber insurance market trends to 2022 in order to test and estimate the impact of future cyber-attacks on the industry’s capitalisation and ratings.